Looking for clear insights into the Bexplus platform? Our direct Bexplus review examines the noteworthy features such as 100x leverage and no-KYC trading, as well as the overall performance and security of this crypto exchange. Get a heads-up on its operational aspects, fees, and how it compares to other giants in this space without the fluff. Whether Bexplus is your potential trading hub or a curiosity, we’ve done the homework for you.
Key Takeaways
- Bexplus is a high-leverage cryptocurrency platform offering 1:100 leverage and perpetual futures contracts, focusing on user privacy by not requiring KYC, but with limited asset pairs and suspended operations since July 2022.
- The platform features a straightforward sign-up process, no deposit fees, a 100% deposit bonus for new users, and a user-friendly mobile app with a range of trading tools and indicators for a seamless experience.
- Despite offering unique features like the ability to earn interest on bitcoin deposits and a copy trading option, Bexplus has limitations such as only accepting BTC for transactions and having suspended operations, impacting its reliability compared to more established exchanges like Binance and Coinbase.
Bexplus Introduction
Bexplus, established in 2017, is a cryptocurrency derivatives trading platform registered in Saint Vincent and the Grenadines, with offices spread across Hong Kong, Singapore, Japan, the US, and Brazil. The Bexplus exchange has carved a niche for itself in the crowded cryptocurrency market landscape by offering high leverage up to 1:100 and facilitating perpetual futures contracts, a feature not commonly found in other exchanges. These contracts allow users to amplify their profits without an expiration date looming over their trades.
Another standout feature of Bexplus, a reliable exchange, is its commitment to user privacy. Unlike many exchanges that require Know-Your-Customer (KYC) verification, Bexplus does not. This means users can engage in unlimited trading and make deposits and withdrawals while maintaining anonymity.
Designed to cater to a diverse audience, Bexplus appeals to both beginner and professional cryptocurrency derivatives traders who prefer privacy and do not wish to go through KYC procedures. This review will provide a thorough examination of the platform to assess whether it fulfills its claims.
Getting Started with Bexplus
Opening a Bexplus account is a quick and simple process. Simply follow these steps:
- Visit the website
- Click on ‘Sign up’
- Fill out the necessary information
- Verify your email
The entire process takes less than a minute, which is an impressive feat in the world of cryptocurrency exchange, where sign-up processes can be lengthy and complex.
After account setup, the funding process is equally direct. You need to:
- Log in
- Access the ‘Deposit’ section
- Select the cryptocurrency
- Transfer funds to the given deposit address
It’s worth noting that Bexplus requires a minimum deposit of 0.001 BTC to start trading.
New users on Bexplus also receive a 100% deposit bonus. This can be a significant advantage, especially for those who are new to the world of cryptocurrency trading. Be aware that understanding the terms of these promotions is key, as such bonuses often have conditions attached.
Bexplus Platform Usability and Features
The Bexplus mobile app is a notable feature. Available on both the Apple App Store and Google Play, the app ensures users can access the platform from a wide range of devices. With functionality identical to the web platform, the mobile app enables easy market tracking and trading anywhere. It’s a testament to the platform’s commitment to providing a seamless trading experience across multiple devices.
Additionally, Bexplus provides a trading simulator equipped with different indicators, chart types, and timeframes, as well as a demo account. This provides a comprehensive virtual trading environment, perfect for those who are new to the world of cryptocurrency trading or those who want to try out different strategies without risking their capital.
The platform’s user-friendly interface is another key selling point. It enables a smooth start to trading and includes tools for adjusting leverage for each asset. With a trading account, it also provides a suite of graphical instruments and multiple indicators for comprehensive chart analysis.
For constant market updates, the Bexplus app delivers real-time notifications around the clock, contributing to a better trading experience.
Exploring Bexplus Trading Options
Bexplus provides several unique trading features. One of these is the offering of perpetual contracts, also known as perpetual swaps. These contracts allow traders to buy or sell the underlying asset at any point in the future without an expiration date, allowing positions to be held indefinitely unless forced to liquidate. This feature, not commonly found in other exchanges, offers traders the flexibility to trade according to their own timeline.
Another key feature of Bexplus is its margin trading option. This involves borrowing funds from the exchange to trade with greater capital, allowing for 100x leverage. While this significantly increases the potential for profit, it also comes with increased risk, making it a feature suited for experienced traders who understand the risks involved.
Moreover, Bexplus features a Copy Trade option, enabling novice traders to mimic the moves of seasoned ones, effectively utilizing trading strategies. This could potentially improve trading outcomes for those still learning the ropes. However, the platform’s product range is limited to a few trading pairs, which might be seen as less competitive compared to the extensive asset offerings and trading volume on other exchanges.
Understanding the Bexplus Wallet
The Bexplus wallet offers the following benefits:
- Chance to earn an annual interest rate between 21 and 30% on stored bitcoins
- Interest calculated with daily revenue
- potentially profitable option for users who prefer to hold their bitcoins
In terms of security, Bexplus utilizes multi-signature encrypted cold storage wallets. This is a crucial feature in the world of cryptocurrency trading, where security threats are a constant concern. The platform also implements protection against DDoS attacks, further enhancing the security of user funds.
The wallet is easy to use for bank transfers. Users simply need to follow these steps:
- Log into their Bexplus account
- Navigate to the transfer section
- Enter the BTC amount
- Confirm the transfer to the wallet
However, one limitation of Bexplus is that it only accepts BTC for deposit and fiat currency withdrawal transactions. This could potentially be restrictive for those who wish to use other cryptocurrencies.
Assessing Bexplus Trading Performance
Performance is a vital aspect of any trading platform. Bexplus stands out in this regard, offering high liquidity and fast order execution. This ensures a smooth trading experience for users, even during periods of intense market fluctuations.
Bexplus Fees Breakdown
Bexplus charges a standard trading fee of 0.075% per trade. While this may seem high compared to platforms that offer lower trading fees for high-volume traders, it provides predictability that could be appealing for many users. The platform also charges withdrawal fees for Bitcoin withdrawals at a rate of 0.0005 BTC, which is in line with the industry average withdrawal fee.
One of the advantages of Bexplus is its transparency when it comes to fees and exchange charges. The platform does not impose any deposit fees and does not have any hidden charges. Additionally, new users are entitled to a 100% deposit bonus, which could significantly reduce the effective cost of their initial trading activities.
Concluding Thoughts on Bexplus
To sum up, Bexplus offers a distinctive blend of high leverage, the absence of KYC procedures, and perpetual contracts in the cryptocurrency trading world. Its simple, flat fee structure and the opportunity to earn interest on deposits also add to its appeal. However, the limited range of assets and the fact that it only accepts BTC for transactions are noteworthy limitations.
Worth mentioning is that Bexplus suspended operations in July 2022 due to unforeseen circumstances. This severely impacts its current and future trading performance and reliability, making it a less viable option for those seeking a reliable trading platform.
Despite its limitations, Bexplus could appeal to traders who prioritize privacy and high leverage, including forex brokers. It also offers an affiliate program, providing an opportunity for traders to earn additional income by referring new users.
Weighing Bexplus Against Other Exchanges
Compared to other crypto exchanges, though, Bexplus stands out in some areas. Its focus on futures trading and its simple fee structure differentiate it from platforms like Coinbase and Binance, which cater more towards spot trading and offer a larger number of pairs. However, these other exchanges offer far more variety in terms of the number of cryptocurrencies supported. Binance supports over 700 cryptocurrencies globally, offering far more variety than Bexplus’s five futures pairs. Additionally, both Binance and Coinbase implement advanced security features, surpassing Bexplus’s own security measures.
In terms of their customer support service, both Binance and Coinbase provide more comprehensive options, including live chat support, phone support, and ticket submission. This outperforms Bexplus's service, further establishing these platforms as more complete options for traders.
Strengths and Weaknesses of Bexplus
Bexplus stands out in the cryptocurrency exchange market with features designed to attract a specific trader demographic. It caters to those seeking high leverage opportunities and values privacy, with its no-KYC policy being a major draw. However, every platform has its trade-offs, and Bexplus is no exception. Here's a concise breakdown of what traders can expect in terms of the platform's advantages and disadvantages:
Strengths:
- Offers high leverage up to 1:100, amplifying potential profits.
- No KYC is required, allowing for anonymous trading and enhanced privacy.
- Perpetual futures contracts enable traders to hold positions indefinitely.
- A user-friendly mobile app provides trading tools and indicators for on-the-go trading.
- 100% deposit bonus for new users, doubling the initial trading capital.
- Interest-earning wallet feature with competitive annual returns.
Weaknesses:
- There is a limited selection of cryptocurrency pairs available for trading.
- Only accepts Bitcoin for deposits and withdrawals, not accommodating other cryptocurrencies.
- Suspended operations in July 2022, raising concerns about its reliability.
- The absence of more advanced security measures found in other leading exchanges.
- Customer support may not be as comprehensive as that of more established platforms.
Summary
In summary, Bexplus is a unique cryptocurrency exchange platform that offers high leverage and no KYC procedures. Its simple fee structure and the opportunity to earn interest on deposits add to its appeal. However, its limited range of assets, the fact that it only accepts fiat currencies and BTC for transactions, and its cessation of operations in July 2022 are notable drawbacks.
In the crowded landscape of cryptocurrency exchanges, Bexplus stands out for certain features but falls short in other areas. Whether or not it’s the right platform for you will depend on your trading preferences and priorities. Do your research, weigh the pros and cons, and make an informed decision.
Frequently Asked Questions
Are crypto trading platforms safe?
Crypto trading platforms can be safe if you use reputable exchanges and are cautious of scam sites. Be sure to research and choose a secure and well-established exchange wallet platform for your transactions.
Who is the best crypto trading app?
The best crypto trading apps include Coinbase for beginners, Kraken for experienced traders with low fees, and Crypto.com for mobile users seeking to use crypto assets for purchases. Consider these options when choosing a trading app.
Can Bittrex be trusted?
Bittrex is generally considered a legitimate and trustworthy cryptocurrency exchange with robust security features, making it a reliable option for investors in digital currencies. However, some users have reported issues with its customer service.
What is the number-one crypto trading platform?
The number-one crypto trading platform is Coinbase, known for its user-friendly interface and extensive support for various cryptocurrencies. Binance is also a popular choice for trading altcoins with low fees.
What are the unique features of Bexplus?
Bexplus offers high leverage up to 1:100, no KYC procedures, and the opportunity to trade perpetual contracts, making it unique in the trading market.
